Rafferty Asset Management LLC increased its position in Live Oak Bancshares, Inc. (NASDAQ:LOB - Free Report) by 34.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,340 shares of the bank's stock after purchasing an additional 11,740 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.10% of Live Oak Bancshares worth $1,793,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management bought a new position in shares of Live Oak Bancshares during the 4th quarter worth $27,000. Venturi Wealth Management LLC purchased a new stake in Live Oak Bancshares in the fourth quarter worth about $71,000. Principal Securities Inc. grew its holdings in Live Oak Bancshares by 99.7% during the 4th quarter. Principal Securities Inc. now owns 3,000 shares of the bank's stock worth $119,000 after acquiring an additional 1,498 shares in the last quarter. Thoroughbred Financial Services LLC increased its position in Live Oak Bancshares by 7.8% during the 4th quarter. Thoroughbred Financial Services LLC now owns 5,594 shares of the bank's stock valued at $221,000 after purchasing an additional 407 shares during the period. Finally, Handelsbanken Fonder AB increased its position in Live Oak Bancshares by 7.1% during the 4th quarter. Handelsbanken Fonder AB now owns 6,000 shares of the bank's stock valued at $237,000 after purchasing an additional 400 shares during the period. Institutional investors own 63.95% of the company's stock.
Analyst Ratings Changes
LOB has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reduced their price objective on shares of Live Oak Bancshares from $36.00 to $34.00 and set a "market perform" rating for the company in a research note on Friday, April 25th. Wall Street Zen lowered shares of Live Oak Bancshares from a "hold" rating to a "sell" rating in a report on Friday, March 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $42.25.
Read Our Latest Research Report on Live Oak Bancshares
Live Oak Bancshares Stock Performance
Live Oak Bancshares stock traded down $0.04 during midday trading on Monday, hitting $26.93. 365,486 shares of the company were exchanged, compared to its average volume of 243,517. The business has a fifty day simple moving average of $26.18 and a two-hundred day simple moving average of $34.34. The firm has a market capitalization of $1.23 billion, a PE ratio of 18.57 and a beta of 1.84. Live Oak Bancshares, Inc. has a fifty-two week low of $22.68 and a fifty-two week high of $50.57.
Live Oak Bancshares Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be given a $0.03 dividend. The ex-dividend date is Tuesday, June 3rd. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.45%. Live Oak Bancshares's dividend payout ratio (DPR) is currently 9.23%.
Insider Transactions at Live Oak Bancshares
In other Live Oak Bancshares news, Director William Henderson Cameron bought 5,000 shares of Live Oak Bancshares stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average cost of $25.92 per share, with a total value of $129,600.00. Following the purchase, the director now directly owns 11,904 shares in the company, valued at $308,551.68. This represents a 72.42% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 23.40% of the company's stock.
About Live Oak Bancshares
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Free Report)
Live Oak Bancshares, Inc operates as the bank holding company for Live Oak Banking Company that provides various banking products and services in the United States. It operates through two segments, Banking and Fintech. The company accepts various deposit products, including noninterest-bearing demand, as well as interest-bearing checking, money market, savings, and time deposits.
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